Quantbot Technologies LP Sells 56,741 Shares of ServiceTitan Inc. $TTAN

Quantbot Technologies LP trimmed its holdings in shares of ServiceTitan Inc. (NASDAQ:TTAN) by 31.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,893 shares of the company’s stock after selling 56,741 shares during the period. Quantbot Technologies LP’s holdings in ServiceTitan were worth $12,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Woodline Partners LP boosted its holdings in ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after acquiring an additional 95 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in ServiceTitan in the second quarter valued at approximately $204,000. Envestnet Asset Management Inc. purchased a new stake in shares of ServiceTitan during the second quarter valued at approximately $13,774,000. Jennison Associates LLC purchased a new stake in shares of ServiceTitan during the second quarter valued at approximately $12,285,000. Finally, Keybank National Association OH bought a new position in shares of ServiceTitan in the second quarter worth approximately $250,000.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 833 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $91.30, for a total transaction of $76,052.90. Following the completion of the transaction, the chief financial officer owned 330,948 shares of the company’s stock, valued at approximately $30,215,552.40. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ara Mahdessian sold 32,000 shares of ServiceTitan stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $98.50, for a total transaction of $3,152,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 216,371 shares of company stock worth $22,700,994. Insiders own 51.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TTAN shares. Wells Fargo & Company lowered their price target on shares of ServiceTitan from $140.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. Piper Sandler lowered their price target on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. BTIG Research assumed coverage on ServiceTitan in a research report on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price objective on the stock. Finally, TD Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceTitan presently has an average rating of “Moderate Buy” and an average price target of $133.13.

ServiceTitan Trading Down 1.6%

TTAN opened at $72.39 on Friday. The business has a 50 day moving average of $85.45 and a 200-day moving average of $95.39. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07. The stock has a market cap of $6.78 billion, a PE ratio of -17.74 and a beta of -0.86. ServiceTitan Inc. has a 52 week low of $58.01 and a 52 week high of $131.33.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The firm had revenue of $249.16 million for the quarter, compared to analysts’ expectations of $238.26 million. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. Equities research analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

ServiceTitan Profile

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.